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Nov. 29, 2018

The whole 2018 wasn’t lucky not only for bitcoin (BTC) but also for those, who decided to launch crypto-related business despite the gradual market decline. One of these men was the former Goldman Sachs Group Inc. partner Mike Novogratz with his Galaxy Digital crypto bank.

And it looks like Galaxy Digital has lost almost $136 million in 2018, according to the revealed Financial Results and Provides Corporate Updates. The report states that net realized and unrealized losses at Galaxy Digital totaled about $41 million in the Q3, 2018.

Novogratz’s Galaxy Digital Lost $136M in Bear Market
Galaxy Digital Holdings Ltd.

While some may think that this could be an alarm signal for Galaxy Digital, Novogratz himself pretty convinced that in 2019 crypto “will flip,” though he admits that “it sucks to build a business in a bear market”. And Novogratz is not the only one who stick to this point of view.

Recently, the Goldman Sachs’ head of digital asset markets Justin Schmidt said in an interview with Bloomberg, that the current bearish crypto market is “really healthy for the ecosystem.”

Earlier, the founder of crypto startup Civic Vinny Lingham forecasted bitcoin would be between $3,000-$5,000 for the next six months, but he also believes that if bitcoin get a chance to reach $20,000 one more time, it’ll definitely boost its price up to $100,000.

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